• 00:01    |    
    Initial credits
  • 00:20    |    
  • 01:27    |    
    Foundation of a market-based economy
    • Honesty
    • Anecdote about Václav Havel
  • 05:47    |    
    Individual rights
    • Origin
    • Constitutional rights
    • Quotes James Madison
    • Property rights
      • Slavery
      • Ownership
      • Armen A. Alchian
      • Exclusive rights to use
  • 17:41    |    
    Challenges to establishing a market economy
    • Hayekian infrastructure of a market economy
    • Anecdote about Milton Friedman
    • Yugoslavian policy
  • 27:10    |    
    Money and consumption
    • Terminology
    • Ludwig von Mises
    • Inflation and deflation
    • Virtuous deflation
    • Price stability and purchasing power
    • Human progress and technology
    • Definition of money
      • Conveyor of information
      • Value of currencies
  • 41:34    |    
    Question and answer period
    • Is it possible to return to a true gold standard around the world?
    • Denationalisation of Money, Friedrich Hayek
    • Is the function of money consistent with fractional-reserve banking?
    • Is there a maximum number of bills that can circulate, similar to the gold maximum?
    • What can be done to create growth and prosperity through investment?
  • 01:00:12    |    
    Final words
  • 01:01:31    |    
    Final credits

Money and Monetary Policy for the Twenty-First Century

New Media  | 26 de febrero de 2010  | Vistas: 29

About this video

In this conference, Jerry L. Jordan talks about the foundations of a market-based economy and the importance of understanding the concept of money. Jordan points out that honesty is critical to establishing credibility for a market system. He also emphasizes that creating a market-based economy is a gradual process with many challenges, but which will ultimately be successful. Jordan defines money as an entity that conveys information about relative prices and transactions. He discusses Ludwig von Mises and his ideas on inflation and deflation and warns against the misuse of terms such as money. Finally, he examines the idea of virtuous deflation.


Money and Monetary Policy for the Twenty-First Century
Jerry L. Jordan

Friedrich A. Hayek Audirorium
Universidad Francisco Marroquín
Guatemala, February 26, 2010

New Media - UFM production.  Guatemala, March 2010
Camera: Sergio Miranda, Mynor de León; digital editing: Alfredo Jop; index and synopsis: Ximena García; content revisers: Daphne Ortiz, Jennifer Keller; publication: Carlos Petz/Daphne Ortiz


Jerry L. Jordan is an economist, president of the Pacific Academy…


Nuestra misión es la enseñanza y difusión de los principios éticos, jurídicos y económicos de una sociedad de personas libres y responsables.

Universidad Francisco Marroquín